Corporate - M&A news
Overview of the latest corporate and M&A news
Belgium implements the fourth anti-money laundering Directive - including UBO-register
10 October 2017
On 6 October 2017, a new law on anti-money laundering, counter terrorism financing and the use of cash was published in the Official Journal. The law transposes the fourth Directive on anti-money laundering (‘AML 4’) and the updated recommendations of the Financial Action Group into national law, while replacing the previous law of 1993 on anti-money laundering.
The most important change is the creation of a national Ultimate Beneficial Owner register (‘UBO-register’). Belgian companies and other legal entities must collect the necessary information on their beneficial owner(s), which is recorded in the UBO-register.
Significant shift in Belgian corporate law
7 October 2016
Several newspapers including De Tijd and L’Echo, have reported on Minister of Justice Koen Geens’ intention to implement the proposals made by the Belgian Centre for Corporate Law (BCV-CDS) – a think-tank which gathers professors and researchers of all Belgian law faculties.